Deutsche Bank Aktiengesellschaft Begins Coverage on Macerich (NYSE:MAC)

Investment analysts at Deutsche Bank Aktiengesellschaft started coverage on shares of Macerich (NYSE:MAC) in a research report issued to clients and investors on Tuesday, Marketbeat.com reports. The firm set a “hold” rating and a $22.00 price target on the real estate investment trust’s stock. Deutsche Bank Aktiengesellschaft’s price target indicates a potential upside of 9.84% from the company’s previous close.

Several other research analysts also recently weighed in on MAC. Compass Point increased their price target on Macerich from $20.00 to $23.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Bank of America upped their target price on shares of Macerich from $17.00 to $19.00 and gave the stock a “neutral” rating in a research report on Friday, October 11th. The Goldman Sachs Group increased their target price on shares of Macerich from $13.00 to $14.60 and gave the company a “sell” rating in a report on Thursday, September 19th. StockNews.com cut shares of Macerich from a “hold” rating to a “sell” rating in a report on Thursday, November 7th. Finally, Piper Sandler boosted their price target on Macerich from $14.00 to $17.00 and gave the company an “underweight” rating in a report on Wednesday, December 11th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $18.86.

Macerich Stock Down 6.2 %

MAC stock opened at $20.03 on Tuesday. The stock’s 50 day moving average is $19.71 and its 200-day moving average is $17.12. Macerich has a twelve month low of $12.99 and a twelve month high of $22.27. The firm has a market capitalization of $4.98 billion, a PE ratio of 51.36, a P/E/G ratio of 0.74 and a beta of 2.51. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.68.

Macerich (NYSE:MAC) last posted its quarterly earnings data on Wednesday, November 6th. The real estate investment trust reported ($0.50) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.90). Macerich had a return on equity of 3.15% and a net margin of 8.98%. The firm had revenue of $220.20 million for the quarter, compared to analysts’ expectations of $208.54 million. During the same period in the prior year, the firm earned $0.44 earnings per share. Macerich’s revenue was up .9% compared to the same quarter last year. Sell-side analysts expect that Macerich will post 1.56 EPS for the current fiscal year.

Institutional Trading of Macerich

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Louisiana State Employees Retirement System boosted its position in Macerich by 1.4% in the 2nd quarter. Louisiana State Employees Retirement System now owns 108,500 shares of the real estate investment trust’s stock worth $1,675,000 after purchasing an additional 1,500 shares in the last quarter. Bailard Inc. acquired a new position in shares of Macerich in the 2nd quarter valued at $468,000. Leisure Capital Management purchased a new stake in Macerich during the second quarter worth $571,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Macerich by 1.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 96,018 shares of the real estate investment trust’s stock worth $1,483,000 after buying an additional 1,798 shares in the last quarter. Finally, Van ECK Associates Corp increased its holdings in Macerich by 6.9% in the second quarter. Van ECK Associates Corp now owns 33,149 shares of the real estate investment trust’s stock valued at $512,000 after buying an additional 2,147 shares in the last quarter. 87.38% of the stock is owned by institutional investors and hedge funds.

About Macerich

Macerich is a fully integrated, self-managed and self-administered real estate investment trust (REIT). As a leading owner, operator and developer of high-quality retail real estate in densely populated and attractive U.S. markets, Macerich’s portfolio is concentrated in California, the Pacific Northwest, Phoenix/Scottsdale, and the Metro New York to Washington, DC corridor.